Bank of England Governor Advocates for Stablecoin Regulation and Transformation of Financial System

Andrew Bailey, the Governor of the Bank of England, has called for stablecoins to be regulated like traditional money, emphasizing their growing importance in the financial system. He also suggested that stablecoins could help shift the financial landscape away from conventional commercial lending, promoting greater accessibility and efficiency in banking. This dual focus on regulation and innovation marks a significant step in the evolution of digital finance.